Evalend Shipping orders VLCC trio at Hyundai Heavy Industries

South Korean shipbuilder Hyundai Heavy Industries has announced that it has secured a $286m contract from a European owner for the construction of three VLCCs, with shipbroking house Lorentzen & Stemoco identifying the buyer as Greek owner Evalend Shipping.

The vessels will be built at Hyundai Samho Shipbuilding and equipped with scrubbers to comply with upcoming IMO regulations. Deliveries will start from the second half of 2020, and the contract also includes an option to build an additional vessel.

Evalend, led by Kriton Lentoudis, operates a fleet of 39 vessels made up of 25 bulkers, nine tankers and two LPG carriers. The contract marks Evaland’s first ever VLCC newbuild order, after entering VLCC sector in 2017 with the acquisition of a 2000-built VLCC Najaf from compatriot owner Sun Enterprises.

Meanwhile Evalend appears to be making room for the newbuilds by offloading other vessels in its fleet. Brokers are circulating two of the company’s chemical tankers for sale, the 2008-built pair Vale and Volante.

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.